Harman International Industries layoffs, on the record
Every job cut, severance charge and restructuring Harman International Industries reported in its annual reports, 2014 to 2016, quoted from the filings. Headcount went from approximately14,202 to approximately 26,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2014 | approximately14,202 | June 30, 2014 |
| 10-K for 2015 | 24,197 | June 30, 2015 |
| 10-K for 2016 | approximately 26,000 | June 30, 2016 |
Job cuts, severance and restructuring
Our summaryCompany runs an ongoing restructuring program to improve its global footprint, cost structure, technology portfolio, human resources and internal processes, with new programs launched in fiscal 2014, 2013 and 2012.
Word for word“Includes restructuring expenses of $84.2 million, $83.1 million, $9.1 million $20.6 million and $17.9 million in fiscal years 2014, 2013, 2012, 2011 and 2010, respectively.” 10-K for 2014
Our summaryCompany recorded severance-related restructuring expense in fiscal 2014 as part of its restructuring program, with severance-related liability rising to $54.2 million at June 30, 2014.
Word for word“Liability, June 30, 2014 $ 54,157 $ 0 $ 30,262 $ 0 $ 84,419” 10-K for 2014
Our summaryCompany continues its global footprint restructuring, including outsourcing manufacturing, divesting or subleasing facilities and relocating functions to best cost countries.
Word for word“During fiscal years 2014, 2013 and 2012, we continued to refine existing programs and launched significant new programs focused on achieving further 39 Table of Contents productivity improvements to: (i) optimize certain research and development and supply chain functions; (ii) outsource certain manufacturing capabilities; (iii) divest or sublease facilities no longer needed to support current operations and (iv) relocate certain functions to best cost countries.” 10-K for 2014
Our summaryRestructuring program continued, with new programs launched to optimize R&D, supply chain and administrative functions, outsource manufacturing, divest or sublease facilities, and relocate functions to best cost countries.
Word for word“During fiscal years 2015, 2014 and 2013, we continued to refine existing programs and launched significant new programs focused on achieving further productivity improvements to: (i) optimize certain research and development, supply chain and administrative functions; (ii) outsource certain manufacturing capabilities; (iii) divest or sublease facilities no longer needed to support current operations; and (iv) relocate certain functions to best cost countries.” 10-K for 2015
Our summaryCompany reported restructuring expenses recorded in SG&A for fiscal 2015, 2014 and 2013.
Word for word“We recorded restructuring charges in SG&A of $42.6 million, $76.4 million and $75.2 million in fiscal years 2015, 2014 and 2013, respectively.” 10-K for 2015
Our summaryCompany reported total restructuring expenses for each year from 2011 to 2015 and a restructuring severance liability balance at fiscal year end 2015.
Word for word“Includes restructuring expenses of $51.9 million, $84.2 million, $83.1 million, $9.1 million and $20.6 million in fiscal years 2015, 2014, 2013, 2012 and 2011, respectively.” 10-K for 2015
Our summaryThe company continued its restructuring program to improve its global footprint, cost structure, technology portfolio, human resources and internal processes, launching significant new programs to optimize functions, outsource manufacturing, divest or sublease facilities, and relocate functions to best cost countries.
Word for word“During fiscal years 2016, 2015 and 2014, we continued to refine existing programs and launched significant new programs focused on achieving further productivity improvements to: (i) optimize certain research and development, supply chain and administrative functions; (ii) outsource certain manufacturing capabilities; (iii) divest or sublease facilities no longer needed to support current operations; and (iv) relocate certain functions to best cost countries.” 10-K for 2016
Our summaryThe company recorded restructuring charges in SG&A for fiscal years 2016, 2015 and 2014.
Word for word“We recorded restructuring charges in SG&A of $14.5 million, $42.6 million and $76.4 million in fiscal years 2016, 2015 and 2014, respectively.” 10-K for 2016
Our summaryThe company reported total restructuring expenses for each of the last five fiscal years.
Word for word“(2) Includes restructuring expenses of $24.9 million, $51.9 million, $84.2 million, $83.1 million and $9.1 million in fiscal years 2016, 2015, 2014, 2013 and 2012, respectively.” 10-K for 2016
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-06-30 | $14.5 million | $55.4 million |
Harman International Industries has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Harman International Industries’s annual reports (10-K for 2016, 10-K for 2015, 10-K for 2014) and the financial data it files with the SEC, as of 2016-08-11. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.